7 Unknown Tech Stocks That Could Quintuple Your Money in 2024
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 20 2024
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Source: Business Insider
- Tech Stocks Overview: Tech industry has been a major driver of stock market gains, reshaping various sectors with innovations like AI and IoT.
- X-FAB Silicon Foundries (XFABF): Despite recent decline due to automotive industry slowdown, XFABF is seen as having potential for explosive returns.
- DroneShield Limited (DRSHF): DRSHF shows significant growth potential in drone detection and security tech, with expectations of further expansion.
- Nagarro (NGRRF): NGRRF, a digital engineering company, is anticipated to stabilize and recover with double-digit revenue growth projections.
- Aehr Test Systems (AEHR): AEHR, a test systems provider, faces challenges due to automotive sector issues but is expected to bounce back in the long term.
- Naspers (NPSNY): NPSNY, operating in consumer internet, is considered underpriced with strengthening fundamentals and growth prospects.
- Ubiquiti (UI): UI, a technology company specializing in wireless products, is poised for significant gains despite current decline.
- Xinyi Solar Holdings (XISHY): XISHY, a photovoltaic glass manufacturer, has potential for recovery and growth despite the solar sector downturn.
Analyst Views on UI
Wall Street analysts forecast UI stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for UI is 587.50 USD with a low forecast of 455.00 USD and a high forecast of 720.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
2 Analyst Rating
1 Buy
0 Hold
1 Sell
Hold
Current: 562.450
Low
455.00
Averages
587.50
High
720.00
Current: 562.450
Low
455.00
Averages
587.50
High
720.00
About UI
Ubiquiti Inc. is engaged in developing technology platforms for distributed Internet access, unified information technology, and consumer electronics for professional, home and personal use. Its solutions are categorized into three categories: high performance networking technology for enterprises, service providers and consumers. It targets the enterprise and service provider markets through its highly engaged community of service providers, distributors, value-added resellers, Webstores, systems integrators and corporate information technology (IT) professionals. It offers a portfolio of networking products and solutions for operator-owners of wireless Internet services (WISP’s), enterprises and smart homes. Its enterprise product platforms provide wireless LAN (WLAN) infrastructure, video surveillance products, switching and routing solutions, security gateways, door access systems, and other complimentary WLAN products, along with a software platform.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
